How to Use Tally

Tally 9 ERP is an accounting program that allows you to track and manage all your accounts, revenue, liabilities and everything related to business operations. Tally 9 is mainly used in India, but you can try it for free. With Tally, you can keep track of all your expenses with just a few keystrokes.

Table of Contents

Set up Tally

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Install Tally software. Tally 9 ERP can be purchased and downloaded from the software’s website. You can download the 30-day trial version if you are unsure about long-term use. Tally 9 is for Windows only. You can also launch Tally in Educational Mode to learn how to use the software without having to register. Some features will be limited in this mode.

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Navigate Tally. Tally is designed for keyboard navigation. Although you can click on any option, everything in Tally comes with built-in keyboard shortcuts. Normally, the keypress will show up next to the available option. When you know how to use the keyboard, your productivity will be higher.

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Create company. To use Tally, you need to create a company on the program. Even if you don’t use Tally professionally, you still have to create a company. In the initial menu, select “Create Company”. The Company Creation screen will appear allowing you to enter company information.

Enter the company name as shown in the bank records.
Enter company address, legal form, phone number and email.
Turn on “Auto Backup” to ensure that a copy of the entire job is saved in case something goes wrong with the original.
Select a currency.
If you’re using Tally for account management purposes only, select “Accounts info” from the Maintain menu. If you use Tally for inventory, select “Accounts with inventory”.
Enter the first fiscal year and account start date.

Create Ledger

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You need to understand what the ledger is for. Ledger records all transactions of an account. You need to create a ledger for each account you do business with. There are two types of ledgers: “Cash” and “Profit and Loss Account”. You can create as many ledgers as you need.

When creating accounts for other parties under Sales or Purchase, the information must be listed as Sundry Debtors, Sundry Creditors or Branch/Divisions ( branch/department). You need to put your audience in the most relevant group. For example, the party you sell to them for more than you buy from would be a Sundry Debtors account.

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Open the Create Ledger window. Select “Accounts Info” from the Gateway menu, then select “Ledgers”. You can choose to create one or more ledgers.

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Select group. When creating a ledger, you first need to select the group to which the ledger is assigned. Choosing the right group is very important as this will affect the total volume and sales later on. The list of available groups is on the right side of the screen.

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Name the ledger. Enter a name for the ledger so you can easily identify what it contains without opening it.

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Enter the initial balance. When creating a ledger, you need to specify the balance at which the ledger begins. If you create a ledger for a bank account, this will be the amount available. With the general ledger of the amount owed to the contractor, the amount you owe will be the initial balance.

Create accounting vouchers

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You need to understand the purpose of vouchers. A voucher is a document containing the details of a financial transaction. Vouchers are used in every aspect of business, from sales to deposits. Tally integrates many of the most popular pre-configured vouchers.

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Open the Vouchers page. From the Gateway menu, select “Accounting Vouchers”.

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Select the voucher you want to create. A list of available vouchers that you can create will appear in the right menu. Choose the voucher that best suits your needs.

Contra Voucher (F4) – Contra voucher for bank deposit/withdrawal or money transfer between two accounts of the same company.
Payment Voucher (F5) – This voucher is for payments made by the business.
Receipt Voucher (F6) – This voucher is for any company income (sale, rental, interest, etc.).
Journal Voucher (F7) – Transactions that do not involve sales/purchases, cash or other income. This type of document is most often used in adjusting, opening or closing balances.
Sales Voucher/Invoice (F8) – This voucher is for all sales made by the company.
Purchase Voucher (F9) – This voucher is used for the purpose of purchasing company assets.

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Enter the requested information. The information to fill in the voucher will vary depending on the type of voucher you want to create. Usually, you need to identify the ledger to which the voucher will be attached, and also enter the dates and names of any parties involved.

If you’re entering products to be bought or sold, Tally will automatically total them based on the quantity you select. ^{[1] X Research Source}

Steps

Set up Tally

Create Ledger

Create accounting vouchers

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